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Communication in Mechanism Design

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  • Williams,Steven R.

Abstract

Mechanism design is the field of economics that treats institutions and procedures as variables that can be selected in order to achieve desired objectives. An important aspect of a mechanism is the communication among its participants that it requires, which complements other design features such as incentives and complexity. A calculus-based theory of communication in mechanisms is developed in this book. The value of a calculus-based approach lies in its familiarity as well as the insight into mechanisms that it provides. Results are developed concerning (i) a first order approach to the construction of mechanisms, (ii) the range of mechanisms that can be used to achieve a given objective, as well as (iii) lower bounds on the required communication.

Suggested Citation

  • Williams,Steven R., 2008. "Communication in Mechanism Design," Cambridge Books, Cambridge University Press, number 9780521851312.
    • Handle: RePEc:cup:cbooks:9780521851312
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    Cited by:

    1. Andrea Mantovi, 2013. "On the commutativity of expansion and substitution effects," Journal of Economics, Springer, vol. 110(1), pages 83-105, September.
    2. Soham R. Phade & Venkat Anantharam, 2021. "Mechanism Design for Cumulative Prospect Theoretic Agents: A General Framework and the Revelation Principle," Papers 2101.08722, arXiv.org.
    3. Barry Sopher & Revan Sopher, 2013. "An Experiment on Partnership Protocols for Bilateral Trade with Incomplete Information," Departmental Working Papers 201304, Rutgers University, Department of Economics.

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